US Bancorp DE increased its stake in Regal Entertainment Group (NYSE:RGC) by 30.3% during the second quarter, Holdings Channel reports. The firm owned 22,705 shares of the company’s stock after buying an additional 5,284 shares during the period. US Bancorp DE’s holdings in Regal Entertainment Group were worth $464,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Camelot Portfolios LLC raised its stake in Regal Entertainment Group by 0.3% in the first quarter. Camelot Portfolios LLC now owns 20,736 shares of the company’s stock valued at $468,000 after buying an additional 67 shares during the period. Canada Pension Plan Investment Board raised its stake in Regal Entertainment Group by 96.9% in the first quarter. Canada Pension Plan Investment Board now owns 450,800 shares of the company’s stock valued at $10,179,000 after buying an additional 221,900 shares during the period. Wells Fargo & Company MN raised its stake in Regal Entertainment Group by 6.5% in the first quarter. Wells Fargo & Company MN now owns 810,427 shares of the company’s stock valued at $18,301,000 after buying an additional 49,653 shares during the period. Hamlin Capital Management LLC raised its stake in Regal Entertainment Group by 16.6% in the first quarter. Hamlin Capital Management LLC now owns 3,491,051 shares of the company’s stock valued at $78,828,000 after buying an additional 496,075 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in Regal Entertainment Group by 0.4% in the first quarter. Russell Investments Group Ltd. now owns 747,402 shares of the company’s stock valued at $16,871,000 after buying an additional 3,072 shares during the period. 77.19% of the stock is currently owned by institutional investors.
Regal Entertainment Group (NYSE RGC) traded down 5.13% during trading on Friday, reaching $15.54. The company’s stock had a trading volume of 1,524,855 shares. The company has a market cap of $2.43 billion, a PE ratio of 14.43 and a beta of 0.92. The stock has a 50-day moving average price of $18.93 and a 200 day moving average price of $20.90. Regal Entertainment Group has a 52-week low of $15.50 and a 52-week high of $24.79.
Regal Entertainment Group (NYSE:RGC) last posted its quarterly earnings data on Wednesday, July 26th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by $0.02. Regal Entertainment Group had a negative return on equity of 20.42% and a net margin of 5.24%. The firm had revenue of $764.20 million during the quarter, compared to analysts’ expectations of $764.15 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. Regal Entertainment Group’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, analysts expect that Regal Entertainment Group will post $1.05 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date is Thursday, August 31st. Regal Entertainment Group’s payout ratio is currently 82.24%.
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Several research firms have recently issued reports on RGC. Royal Bank Of Canada increased their target price on Regal Entertainment Group from $23.00 to $25.00 and gave the stock a “sector perform” rating in a report on Thursday, April 27th. FBR & Co increased their target price on Regal Entertainment Group from $23.00 to $25.00 and gave the stock a “mkt perform” rating in a report on Thursday, April 27th. MKM Partners reissued a “neutral” rating and set a $24.00 target price (up from $23.00) on shares of Regal Entertainment Group in a report on Wednesday, April 26th. Wedbush reissued a “buy” rating and set a $26.00 target price on shares of Regal Entertainment Group in a report on Friday, April 21st. Finally, Zacks Investment Research lowered Regal Entertainment Group from a “buy” rating to a “hold” rating in a report on Friday, April 21st. Five analysts have rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $24.57.
About Regal Entertainment Group
Regal Entertainment Group is an operator of theatre circuits in the United States. As of March 31, 2017, the Company operated 7,262 screens in 559 theatres in 43 states along with Guam, Saipan, American Samoa and the District of Columbia. The Company manages its business under theatre exhibition operations segment.
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